Johnson says our powerhouse partnership is delivering jobs, growth and opportunities for our people
Prime Minister Boris Johnson arrives with a raft of commercial agreements and hail a new era in the UK and India’s trade, investment and technology partnership, as he arrived in Gujarat on 21 April 2022 for the start of a two-day visit to India.
The Prime Minister used his visit to India to “boost our collaboration with one of the world’s fastest growing economies, slashing trade barriers for UK businesses and driving jobs and growth at home,” said a statement from the British High Commission in New Delhi.
Businesses from the two countries will confirm more than £1 billion in new investments and export deals on 21 April 2022 in areas from software engineering to health, creating almost 11,000 jobs across the UK, said the statement.
That includes:
· A new Switch Mobility electric bus R&D centre in the UK and the opening of their Asia Pacific Headquarters in Chennai, generating over 1000 jobs in the UK in India;
· Investment from leading Indian manufacturer Bharat Forge and electric truck maker Tevva Motors to expand to a new site in the south-east and create 500 new jobs;
· Indian software company Mastek investing £79mn to create 1600 jobs over the next three years all over the UK;
· Business consultancy FirstSource opening new offices in South Wales, the Midlands and cities in the North-East and North-West.
· Hertfordshire-based firm Smith & Nephew agreeing a major export deal to sell robotic surgical systems in India, and Northamptonshire business Scott Bader opening a new resins factory to supply top renewable energy companies in south-east Asia.
The Prime Minister will also welcome OneWeb signing a historic contract for satellite launches with New Space India Limited, the commercial arm of the Indian Space Research Organisation.
OneWeb is an innovative UK-based satellite communications company, which the Government has invested in put the UK at the forefront of rapidly evolving space technologies. This agreement with India is a significant development for the company’s operations.
Johnson said, “As I arrive in India today (21 April 2022), I see vast possibilities for what our two great nations can achieve together. From next-generation 5G telecoms and AI to new partnerships in health research and renewable energy – the UK and India are leading the world.
“Our powerhouse partnership is delivering jobs, growth and opportunities for our people, and it will only go from strength-to-strength in the coming years.”
The Prime Minister will visit a new factory being opened by a top British firm in Gujarat, as well as a biotechnology university working in collaboration with the University of Edinburgh.
The UK will confirm major new science and tech collaboration, including a Digital Health partnership and a joint investment fund for Indian deep-tech and AI start-ups, supported by the UK and Indian governments; new AI scholarships for Indian students jointly funded by the UK Government’s Chevening programme and India’s Adani Group; and a £6m investment from AI healthcare specialists Qure-ai to open a Centre of Excellence in the UK.
As he moves on to New Delhi on 22 April 2022, the Prime Minister will also use this week’s visit to drive progress in negotiations on the landmark UK-India free trade agreement, which is expected to help double our trade and investment by 2030. Negotiating teams will hold their third round of formal talks in India next week.
Work is already progressing on cutting red tape for businesses following the UK-India Enhanced Trade Partnership launched by both Prime Ministers last year, and today our governments will announce new measures to make it easier to export UK-made medical devices to India.
This will support UK jobs and create opportunities for British med-tech companies like Redcar-based Micropore Technologies to sell their lifesaving products in India, an import market worth £2.4bn.
Details of £1.04 billion investment, creating an estimated 10,906 jobs:
FDI:
· Switch Mobility: Firm will establish an R&D Centre in the UK this summer, part of the companies £300 million investment and 4,000 highly skilled jobs across UK and India.
· Mastek: Investment of around £79 million to expand their UK operations, creating 1,600 UK jobs
· FirstSource: Investment of £21 million to set up ‘hub and spoke’ offices across the UK, creating 1,000 UK jobs
· Tech Machindra: New collaboration with the Alun Turing Institute to bolster AI growth, with the aim to create 1,000 jobs in the UK
· Mphasis: £5 million investment to set up a new office in the north of England, generating around 700 high skill jobs
· Prodapt: £100 million investment expand software and technology service operations in the UK, creating around 500 jobs.
· Bharat Forge – Tevva Motors: £50 million to expand into a new site in the UK for electric truck manufacturing, creating 500 UK jobs
· Jupiter LifeLine Hospitals Ltd: Setting up a state-of-the-art Neuro Rehabilitation Centre for patients in the UK, creating 500 jobs with an investment of around £50 million.
· TVS Motors: Investing around £100 million in iconic British brand Norton Motorcycle. This is expected to create 250-300 direct jobs over the next 3 years and another 500-800 indirect jobs across the supply chain.
· Brinton Pharmaceuticals: Setting up a global research and development hub in the UK with an investment of £30 million, creating around 300 jobs.
· LTI – £1 million, creating 300 UK jobs
· TVS Supply Chain Solutions: Expanding in the UK with an additional £4 million investment, creating 280 jobs
· Leverage Edu: Indian Edtech startup Leverage Edu investing £15 million over the next three years to build its UK presence, creating 150 UK jobs
· Gogji: MedTech Startup Qure.ai investing £10m to expanding in the UK, creating 100 high quality jobs
· Property Share: First property-tech company from India entering the UK market, £10 million creating 60 jobs
· Xelpmoc: Indian tech company will invest £3.5 million for a technology and innovation excellence centre in the UK, creating 60 jobs.
· HyperXchange: HX, one of India’s leading Refurbished electronics-brand, is investing £3 million to create a new entity in England and Scotland, creating 60 jobs.
· Leption Software: Expanding existing operations in Manchester. £3 million, creating 56 jobs.
· Byjus’s: Fintech firm has chosen the UK to be their first global innovation hub, creating 55 jobs with a £15 million investment
· Gayam Motor Works: £10 million investment to establish an e-vehicle assembly unit in the UK, creating 55 jobs.
· Searce: Technology firm will invest £10 million to invest in the UK, creating 50 jobs.
· Manras Technologies: Software start-up will invest £8.5 million to expand operations in the UK, creating 50 jobs.
· Forest Essentials: Indian luxury beauty brand investing £5 million for a new UK office, creating 40 jobs
· Tata Chemicals: £23 million investment to expand UK operations, creating 30 jobs
· Apollo Tyres: £5 million investment to open a Digital Innovation Hub in the UK, creating 25 jobs
· Start-up Voyager: £2.2 million investment to boost UK operations, creating 25 jobs
· Microlabs: Indian Pharmaceuticals company investing £10 million to expand in the UK
· Qure AI Technologies – £6 million, creating 15 UK jobs
EXPORTS:
· OptiBiotix Health plc signing an exclusive sales agreement with India’s Apollo Hospitals Group
· Health education firms AT&F Solution and OrthOracle UK secure £9.82 million deal to deliver orthopaedic medical training.
· RELX sign a five-year commercial deal to delivery primary health care in 70+ medical centres.
· Scott Bader will invest £23 million to establish a resins manufacturing facility in India, creating 150 jobs in India.
· Medical technology firm Smith and Nephew have signed multiple deals for their robotic surgical system to be used in India.
· Ujala Cygnus secures a £6.9 million deal to train Indian doctors in acute medicine, creating 20 jobs in the UK.
· Cyanconnode announce a £5 million deal to support Smart Meters in India, creating 10 UK jobs.
· UK tech firm What3Words will partner with multiple Indian auto firms to provide accurate satellite navigation.
· Contactless Payments pioneers McLEAR will launch the first Smart Ring in India in a £10 million deal.
· Wireless infrastructure manufacturer Radio Design will establish a new manufacturing centre in India.
· Carbon Masters agree a joint venture to implement a waste management project in Bengaluru that will reduce carbon emissions.
· Joint UK-Indian venture Pandrol Rahee will set up a state-of-the-art manufacturing centre in West Bengal.
· Deliveroo will set up its largest technology hub outside of the UK in Hyderabad, India.
· Arup secure a £1 million deal to accelerate India’s railway station redevelopment programme.
· UK FinTech firm Revolut announce its expansion into India. fiinews.com
